Himax Technologies, Inc. Reports First Quarter 2018 Financial Results and Provides Second Quarter 2018 Guidance


 
Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
( Amounts in T housands of U . S . D ollars)
    Three Months
Ended
March 31,
  Three
Months
Ended
December
3 1 ,
    20 1 8   20 1 7   20 1 7
       
Cash flows from operating activities:      
Profit (loss) for the period $(3,316) $663  $22,863 
Adjustments for:      
Depreciation and amortization  5,098   3,439   5,098 
Bad debt expense  -   -   155 
Share-based compensation expenses  91   229   93 
Gain on disposals of property, plant and equipment  -   (28)  (1)
Changes in fair value of financial assets at fair value through profit or loss  (1)  (70)  (23,064)
Interest income  (549)  (543)  (554)
Finance costs  252   214   250 
Income tax expense (benefit)  (728)  122   3,989 
Share of losses of associates  844   134   483 
Inventories write downs  2,954   3,047   3,418 
Foreign currency exchange gains of financial assets   (222 )     -       -  
      4,423       7,207       12,730  
Changes in:            
Accounts receivable     22,171       23,473       (5,901 )
Inventories     (15,716 )     (1,559 )     (8,506 )
Other receivable from related parties     (15 )     -       -  
Other current assets     (1,672 )     (878 )     (346 )
Accounts payable     (4,963 )     (26,328 )     14,380  
Accounts payable to related party     -       522       -  
Other payable to related party     (300 )     -       850  
Net defined benefit liabilities     26       41       (52 )
Other current liabilities     (1,629 )     2,627       (4,709 )
Other non-current liabilities     (7 )     495       (590 )
Cash generated from operating activities     2,318       5,600       7,856  
Interest received     166       50       883  
Interest paid     (170 )     (137 )     (170 )
Income tax paid     (37 )     (53 )     (273 )
Net cash provided by operating activities     2,277       5,460       8,296  
             
Cash flows from investing activities:            
Acquisitions of property, plant and equipment     (18,550 )     (1,998 )     (15,537 )
Proceeds from disposal of property, plant and equipment     -       28       87  
Acquisitions of intangible assets     (94 )     (11 )     (175 )
Acquisitions of financial assets at amortized cost     (1,897 )     (454 )     (756 )
Proceeds from disposal of financial assets at amortized cost     754       446       -  
Acquisitions of financial assets at fair value through profit or loss     (4,330 )     (4,647 )     (4,934 )
Proceeds from disposal of financial assets at fair value through profit or loss     26,506       6,074       15,088  
Acquisition of business     (700 )     -       -  
Acquisitions of equity method investments     -       -       (6,945 )
Increase in refundable deposits     (1 )     (310 )     (82 )
Releases (pledges) of restricted deposit     (11 )     (222 )     195  
 

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